SLOVNAFT Group has confirmed the good performance in the fourth quarter 2015

“SLOVNAFT Group was able to capture favorable conditions on international markets with its oil products in the fourth quarter of last year. Segment of basic plastics and chemicals once again strongly contributed to the results. Although production of these products represents only 7% of the total output of Slovnaft, petrochemicals generated one third of company´s overall economic performance. We want to build on this trend by launching the commercial production at one of Europe´s most modern units for polyethylene production in the beginning of 2016,” said Oszkár Világi, the Chairman of the Board and CEO of SLOVNAFT, a.s. Also activities focused at optimizing costs and revenues have contributed significantly to results, thanks to which the group has increased its internal efficiency by more than 150 million dollars in the last 4 years.

“Following the development on the global oil and refining market, the resources acquired last year will contribute to financial stability and other investment activity of SLOVNAFT Group,” said Világi, adding that in the coming period the company will continue to focus mainly on maintaining the high production reliability, strict cost discipline and the expansion and further streamlining of the sales opportunities in the domestic and export markets.

Due to the reduction in the prices of refinery products on the international markets, the net revenues of SLOVNAFT Groups in the last year dropped by 12 percent to 3.53 billion euros. In 2015 Slovnaft invested 115 million euros, mostly used for activities associated with the construction of a new LDPE4 facility for the production of polyethylene and projects aimed at increasing production efficiency and quality.

In the past year Slovnaft has processed 5.93 million tons of oil in the Bratislava refinery, which was by 13 percent more than in 2014. Automotive gasoline production increased year-on-year by 15 percent to 1.48 million tons and diesel fuel production increased by 13 percent to 3.11 million tons. A year-on-year increase was recorded also in polymer production.

In the last year the sales volume of petroleum products produced from crude oil and other raw materials increased year-on-year by 11 percent to 6.05 million tons. Almost three quarters of this volume was exported. In 2015 the sale to foreign markets increased by 12 percent and on the domestic market by 7 percent.

After the takeover and integration of the Agip service stations in Slovakia, Slovnaft was operating a total of 253 service stations by the end of December. In the last quarter there was reflected an increase in the sales of motor fuels in the retail by 24 percent. Within the region, Slovnaft Group oversees the operation of some 600 of its own and partner service stations in four countries – Slovakia, Czech Republic, Austria and Poland.

SLOVNAFT, a.s. »